A new modular dc-dc converter based on cascaded half-bridge topology is proposed in this paper. This modular dc-dc converter is designed for battery bank interfacing in dc microgrid. The proposed converter reduces the size of the required inductor for operation, leading to lower equivalent series resistance and improved overall performance. It also enables efficient operation due to reduced switching and/or conduction losses in addition to reduced losses in the inductor. Additionally, the converter can be utilized for active battery balancing by controlling the number of inserted or bypassed submodules for charging and discharging purposes. The effectiveness of the proposed converter is demonstrated by the results obtained using MATLAB/Simulink.